If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.

In truth, the gold standard is already a barbarous relic.

When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.

The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods.

It's not bringing in the new ideas that's so hard; it's getting rid of the old ones.

The spectacle of modern investment markets has sometimes moved me towards the conclusion that to make the purchase of an investment permanent and indissoluble, like marriage, except by reason of death or other grave cause, might be a useful remedy for our contemporary evils. For this would force the investor to direct his mind to the long-term prospects and to those only.

One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.